February 2, 2010 4:50 PM

THE AM LAW 100: White & Case Revenue Plunges 11 Percent

Posted by Richard Lloyd

White & Case's 2009 revenue fell 11 percent, one of the largest drops so far reported by an Am Law 100 firm.

Total gross revenue for the firm was $1.3 billion compared with $1.46 billion in 2008. Profits per equity partner (PPP) were largely flat at $1.595 million.  The firm is so far the largest U.S. practice to report its numbers for 2009.

In the course of the year the firm took a number of steps to strengthen its emerging markets exposure, including opening an office in Doha, Qatar. And it played a key role on a number of high-profile matters. Restructuring partner Thomas Lauria, for example, picked up a prominent role on the Chrysler bankruptcy representing the so-called non-TARP lenders.

However, last March, White & Case announced one of the largest reductions in head count of any firm, letting go of 200 attorneys and a further 200 staff as it reacted to the impact of the global economic downturn. Things appeared to have stabilized, but in the last week the firm saw 12 partners from the New York, London, Abu Dhabi, and Riyadh offices defect to Latham & Watkins.

This report is part of The Am Law Daily's ongoing Web coverage of The Am Law 100’s 2009 financials. Results are preliminary. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2010 issue and on The Am Law Second Hundred will be published in the June issue.

The final published results of last year's Am Law 100 rankings are available here.


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